The two sides will part ways after two years of collaboration. Ford says it "successfully" completed "feasibility and development of the hybrid system." The Dearborn automaker said it will put that system into rear-wheel drive trucks and SUVs on its own without Toyota.

Toyota confirmed the announcement Tuesday.

"Toyota and Ford continue to evaluate the feasibility of working together on next-generation standards for telematics and will consider other areas for future collaboration as well," Toyota said in a statement.

Ford's new rear-wheel drive hybrid system -- which the automaker says will be available by the end of this decade -- will be based on an all-new truck and SUV architecture.

"We know what it takes to build world-class hybrids, and we now will build and leverage that expertise in-house," Raj Nair, Ford's global product development chief, said in a statement. "By continuing to develop a rear-wheel drive hybrid system on our own, we can extend our advanced hybrid technologies to new vehicle segments and deliver even better fuel economy across our lineup."